Truth in Lending (Regulation Z), 49869 [2016-18050]

Download as PDF Federal Register / Vol. 81, No. 146 / Friday, July 29, 2016 / Rules and Regulations 10 CFR 430.23(dd). DOE is also correcting amendatory instruction 10.b. on page 46792, and the reference to paragraph (dd) on page 46794. The effective date for this rule is August 17, 2016. Correction In final rule FR Doc. 2016–14389, published in the issue of Monday, July 18, 2016, (80 FR 46767), the following corrections are made: 1. On page 46783, first column, second paragraph, 5th line, the existing text ‘‘10 CFR 430.23 (dd)’’ is corrected to read as ‘‘10 CFR 430.23 (ff)’’. 2. On page 46792, third column, amendatory instruction 10.b. is corrected to read as follows: § 430.23 [Corrected] 10. * * * b. Adding paragraph (ff). * * * * * 3. On page 46794, third column, second paragraph, ‘‘(dd)’’ is corrected to read as ‘‘(ff)’’. ■ ■ Issued in Washington, DC, on July 21, 2016. Kathleen B. Hogan, Deputy Assistant Secretary for Energy Efficiency, Energy Efficiency and Renewable Energy. [FR Doc. 2016–17752 Filed 7–28–16; 8:45 am] BILLING CODE 6450–01–P BUREAU OF CONSUMER FINANCIAL PROTECTION 12 CFR Part 1026 Truth in Lending (Regulation Z) CFR Correction In Title 12 of the Code of Federal Regulations, Parts 1026 to 1099, revised as of January 1, 2016, on page 749, in supplement I to part 1026, under section 1026.41,the heading 41(e)(5) Consumers in bankruptcy and paragraphs 1, 2, and 3 are added to read as follows: not discharged, a servicer must resume sending periodic statements in compliance with § 1026.41 within a reasonably prompt time after the next payment due date that follows the earliest of any of three potential outcomes in the consumer’s bankruptcy case: the case is dismissed, the case is closed, or the consumer receives a discharge under 11 U.S.C. 727, 1141, 1228, or 1328. However, this requirement to resume sending periodic statements does not require a servicer to communicate with a consumer in a manner that would be inconsistent with applicable bankruptcy law or a court order in a bankruptcy case. To the extent permitted by such law or court order, a servicer may adapt the requirements of § 1026.41 in any manner believed necessary. ii. The periodic statement is not required for any portion of the mortgage debt that is discharged under applicable provisions of the U.S. Bankruptcy Code. If the consumer’s bankruptcy case is revived—for example if the court reinstates a previously dismissed case, reopens the case, or revokes a discharge—the servicer is again exempt from the requirement in § 1026.41. 3. Joint obligors. When two or more consumers are joint obligors with primary liability on a closed-end consumer credit transaction secured by a dwelling subject to § 1026.41, the exemption in § 1026.41(e)(5) applies if any of the consumers is in bankruptcy. For example, if a husband and wife jointly own a home, and the husband files for bankruptcy, the servicer is exempt from providing periodic statements to both the husband and the wife. * * * * * [FR Doc. 2016–18050 Filed 7–28–16; 8:45 am] BILLING CODE 1505–01–D DEPARTMENT OF TRANSPORTATION Federal Aviation Administration Supplement I to Part 1026—Official Interpretation 14 CFR Part 25 * [Docket No. FAA–2016–6925; Special Conditions No. 25–623–SC] * * * * Section 1026.41 Periodic Statements for Residential Mortgage Loans asabaliauskas on DSK3SPTVN1PROD with RULES * * * * * 41(e)(5) Consumers in bankruptcy. 1. Commencing a case. The requirements of § 1026.41 do not apply once a petition is filed under Title 11 of the United States Code, commencing a case in which the consumer is a debtor. 2. Obligation to resume sending periodic statements. i. With respect to any portion of the mortgage debt that is VerDate Sep<11>2014 17:04 Jul 28, 2016 Jkt 238001 Special Conditions: Embraer S.A. Model EMB–545 and EMB–550 Airplanes; Installation of an Airbag System To Limit the Axial Rotation of the Upper Leg on Single- and MultiplePlace Side-Facing Seats Federal Aviation Administration (FAA), DOT. ACTION: Final special conditions; request for comments. AGENCY: PO 00000 Frm 00015 Fmt 4700 Sfmt 4700 49869 These special conditions are issued for the Embraer S.A. (Embraer) Model EMB–545 and EMB–550 series airplanes. These airplanes will have a novel or unusual design feature when compared to the state of technology envisioned in the airworthiness standards for transport-category airplanes. This feature is an airbag system designed to limit the axial rotation of the upper leg on single-place and multiple-place side-facing seats. The applicable airworthiness regulations do not contain adequate or appropriate safety standards for this design feature. These special conditions contain the additional safety standards that the Administrator considers necessary to establish a level of safety equivalent to that established by the existing airworthiness standards. DATES: This action is effective on Embraer on July 29, 2016. We must receive your comments by September 12, 2016. ADDRESSES: Send comments identified by docket number FAA–2016–6925 using any of the following methods: • Federal eRegulations Portal: Go to http://www.regulations.gov/and follow the online instructions for sending your comments electronically. • Mail: Send comments to Docket Operations, M–30, U.S. Department of Transportation (DOT), 1200 New Jersey Avenue SE., Room W12–140, West Building Ground Floor, Washington, DC 20590–0001. • Hand Delivery or Courier: Take comments to Docket Operations in Room W12–140 of the West Building Ground Floor at 1200 New Jersey Avenue SE., Washington, DC, between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays. • Fax: Fax comments to Docket Operations at 202–493–2251. Privacy: The FAA will post all comments it receives, without change, to http://www.regulations.gov/. including any personal information the commenter provides. Using the search function of the docket Web site, anyone can find and read the electronic form of all comments received into any FAA docket, including the name of the individual sending the comment (or signing the comment for an association, business, labor union, etc.). DOT’s complete Privacy Act Statement can be found in the Federal Register published on April 11, 2000 (65 FR 19477–19478), as well as at http://DocketsInfo.dot .gov/. Docket: Background documents or comments received may be read at http://www.regulations.gov/ at any time. Follow the online instructions for SUMMARY: E:\FR\FM\29JYR1.SGM 29JYR1

Agencies

[Federal Register Volume 81, Number 146 (Friday, July 29, 2016)]
[Rules and Regulations]
[Page 49869]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-18050]


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BUREAU OF CONSUMER FINANCIAL PROTECTION

12 CFR Part 1026


Truth in Lending (Regulation Z)

CFR Correction

    In Title 12 of the Code of Federal Regulations, Parts 1026 to 1099, 
revised as of January 1, 2016, on page 749, in supplement I to part 
1026, under section 1026.41,the heading 41(e)(5) Consumers in 
bankruptcy and paragraphs 1, 2, and 3 are added to read as follows:

Supplement I to Part 1026--Official Interpretation

* * * * *


Section 1026.41  Periodic Statements for Residential Mortgage Loans

* * * * *
    41(e)(5) Consumers in bankruptcy.
    1. Commencing a case. The requirements of Sec.  1026.41 do not 
apply once a petition is filed under Title 11 of the United States 
Code, commencing a case in which the consumer is a debtor.
    2. Obligation to resume sending periodic statements. i. With 
respect to any portion of the mortgage debt that is not discharged, a 
servicer must resume sending periodic statements in compliance with 
Sec.  1026.41 within a reasonably prompt time after the next payment 
due date that follows the earliest of any of three potential outcomes 
in the consumer's bankruptcy case: the case is dismissed, the case is 
closed, or the consumer receives a discharge under 11 U.S.C. 727, 1141, 
1228, or 1328. However, this requirement to resume sending periodic 
statements does not require a servicer to communicate with a consumer 
in a manner that would be inconsistent with applicable bankruptcy law 
or a court order in a bankruptcy case. To the extent permitted by such 
law or court order, a servicer may adapt the requirements of Sec.  
1026.41 in any manner believed necessary.
    ii. The periodic statement is not required for any portion of the 
mortgage debt that is discharged under applicable provisions of the 
U.S. Bankruptcy Code. If the consumer's bankruptcy case is revived--for 
example if the court reinstates a previously dismissed case, reopens 
the case, or revokes a discharge--the servicer is again exempt from the 
requirement in Sec.  1026.41.
    3. Joint obligors. When two or more consumers are joint obligors 
with primary liability on a closed-end consumer credit transaction 
secured by a dwelling subject to Sec.  1026.41, the exemption in Sec.  
1026.41(e)(5) applies if any of the consumers is in bankruptcy. For 
example, if a husband and wife jointly own a home, and the husband 
files for bankruptcy, the servicer is exempt from providing periodic 
statements to both the husband and the wife.
* * * * *
[FR Doc. 2016-18050 Filed 7-28-16; 8:45 am]
 BILLING CODE 1505-01-D